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Ericsson		#61 Posted : Wednesday, April 01, 2020 9:45:48 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		heri wrote: Ericsson wrote: Angelica _ann wrote: Ericsson wrote: https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large Corporate governance in Kenya for you, what is the purposes of this notice. To inform shareholders they have found a buyer for the piece of land. The returns they will get will be a windfall. assuming they are selling at a profit The land was bought 10 years ago before even the company was listed on the NSE Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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heri		#62 Posted : Thursday, April 02, 2020 7:54:17 AM
Rank: Member Joined: 9/14/2011 Posts: 869 Location: nairobi		Ericsson wrote: heri wrote: Ericsson wrote: Angelica _ann wrote: Ericsson wrote: https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large Corporate governance in Kenya for you, what is the purposes of this notice. To inform shareholders they have found a buyer for the piece of land. The returns they will get will be a windfall. assuming they are selling at a profit The land was bought 10 years ago before even the company was listed on the NSE Oh okay. Was it held at cost?
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mwanahisa		#63 Posted : Thursday, April 02, 2020 9:31:33 AM
Rank: Elder Joined: 6/2/2008 Posts: 1,438		heri wrote: Ericsson wrote: heri wrote: Ericsson wrote: Angelica _ann wrote: Ericsson wrote: https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large Corporate governance in Kenya for you, what is the purposes of this notice. To inform shareholders they have found a buyer for the piece of land. The returns they will get will be a windfall. assuming they are selling at a profit The land was bought 10 years ago before even the company was listed on the NSE Oh okay. Was it held at cost? No. It was not held at cost. They have been revaluing their investment property periodically, hence any revaluation gains/losses have already been reflected in their financial reports.
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Ericsson		#64 Posted : Friday, June 05, 2020 8:12:11 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		Cooperative bank reduced shareholding in cic from 26.1% to 24.8% Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Ericsson		#65 Posted : Friday, June 05, 2020 8:15:06 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		CIC has an outstanding loan balance of ksh.3.6bn from cooperative bank.Loan was taken to repay corporate bond. Kiambu land used as collateral for the borrowing. Interest rate of 12.5% repayable in 5 years. Interest is to be paid tri-annually. Principal is payable at end of the tenure. Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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littledove		#66 Posted : Friday, June 05, 2020 8:23:50 AM
Rank: Veteran Joined: 7/1/2014 Posts: 927 Location: sky		Ericsson wrote: CIC has an outstanding loan balance of ksh.3.6bn from cooperative bank.Loan was taken to repay corporate bond. Kiambu land used as collateral for the borrowing. Interest rate of 12.5% repayable in 5 years. Interest is to be paid tri-annually. Principal is payable at end of the tenure. whats the value of the land they are selling, i heard it has significant impact on their assets There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Ericsson		#67 Posted : Friday, June 05, 2020 11:14:00 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		littledove wrote: Ericsson wrote: CIC has an outstanding loan balance of ksh.3.6bn from cooperative bank.Loan was taken to repay corporate bond. Kiambu land used as collateral for the borrowing. Interest rate of 12.5% repayable in 5 years. Interest is to be paid tri-annually. Principal is payable at end of the tenure. whats the value of the land they are selling, i heard it has significant impact on their assets Value on the books is ksh.3.6bn Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Pennysense XIII		#68 Posted : Friday, June 05, 2020 11:52:53 AM
Rank: Hello Joined: 5/21/2020 Posts: 2 Location: Nairobi		mwanahisa wrote: heri wrote: Ericsson wrote: heri wrote: Ericsson wrote: Angelica _ann wrote: Ericsson wrote: https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large Corporate governance in Kenya for you, what is the purposes of this notice. To inform shareholders they have found a buyer for the piece of land. The returns they will get will be a windfall. assuming they are selling at a profit The land was bought 10 years ago before even the company was listed on the NSE Oh okay. Was it held at cost? No. It was not held at cost. They have been revaluing their investment property periodically, hence any revaluation gains/losses have already been reflected in their financial reports. https://www.businessdail...71086-n7m2fh/index.html Yes it is held at cost CIC has carried the land holdings at cost, meaning that the sale will result in substantial gains in line with appreciation of land over the years. It is easier to find men who will volunteer to die, than to find those who are willing to endure pain with patience.
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Ericsson		#69 Posted : Sunday, June 07, 2020 9:10:37 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		Pennysense XIII wrote: mwanahisa wrote: heri wrote: Ericsson wrote: heri wrote: Ericsson wrote: Angelica _ann wrote: Ericsson wrote: https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large Corporate governance in Kenya for you, what is the purposes of this notice. To inform shareholders they have found a buyer for the piece of land. The returns they will get will be a windfall. assuming they are selling at a profit The land was bought 10 years ago before even the company was listed on the NSE Oh okay. Was it held at cost? No. It was not held at cost. They have been revaluing their investment property periodically, hence any revaluation gains/losses have already been reflected in their financial reports. https://www.businessdail...71086-n7m2fh/index.html Yes it is held at cost CIC has carried the land holdings at cost, meaning that the sale will result in substantial gains in line with appreciation of land over the years. The proposal will be brought to shareholders for ratification on 30th June 2020. It's agenda no.10 Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Horton		#70 Posted : Monday, June 08, 2020 7:03:26 AM
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi		Ericsson wrote: Pennysense XIII wrote: mwanahisa wrote: heri wrote: Ericsson wrote: heri wrote: Ericsson wrote: Angelica _ann wrote: Ericsson wrote: https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large Corporate governance in Kenya for you, what is the purposes of this notice. To inform shareholders they have found a buyer for the piece of land. The returns they will get will be a windfall. assuming they are selling at a profit The land was bought 10 years ago before even the company was listed on the NSE Oh okay. Was it held at cost? No. It was not held at cost. They have been revaluing their investment property periodically, hence any revaluation gains/losses have already been reflected in their financial reports. https://www.businessdail...71086-n7m2fh/index.html Yes it is held at cost CIC has carried the land holdings at cost, meaning that the sale will result in substantial gains in line with appreciation of land over the years. The proposal will be brought to shareholders for ratification on 30th June 2020. It's agenda no.10 I don’t think they will get buyers for this land hand over fist currently. Even if they do get buyers, it will be at the 5-6B mark. It’s a buyers market and these valuations are usually very optimistic even for a good market.
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